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Hong Kong customs have arrested seven people in connection with a money-laundering syndicate that handled HK$14 billion (US$1.8 billion), using “stooge” bank accounts and shell companies. It’s the largest amount connected to a single case recorded in the city.
At a press conference on February 16, 2024, the city’s Customs and Excise Department revealed the operation was linked to a mobile app scam in India and two jewellery companies in the country that handled about HK$2.9 billion (US$371 million) of the funds.
